Hero MotoCorp is likely to give ‘all it’s got’ to the upcoming model, given its need to urgently catch up with rivals TVS and Bajaj in the electric market.
02 Jun 2025 | 5523 Views | By Angitha Suresh
Hero MotoCorp said today it will launch a new electric two-wheeler on July 1, giving the most concrete indication that the Vida Z, the company's most affordable electric vehicle to date, will hit the market soon. The announcement comes as rivals TVS Motor and Bajaj Auto have surged ahead in ...
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Hero MotoCorp said today it will launch a new electric two-wheeler on July 1, giving the most concrete indication that the Vida Z, the company's most affordable electric vehicle to date, will hit the market soon. The announcement comes as rivals TVS Motor and Bajaj Auto have surged ahead in the electric two-wheeler market in recent months, threatening to cement their positions in the rapidly growing segment before Hero can establish a meaningful presence.
The world's largest motorcycle manufacturer currently ranks fifth in India's electric two-wheeler market. Given the critical juncture at which the market finds itself, Hero is expected to give this launch all it has got in an effort to catch up with Bajaj and TVS in the fastest-growing segment of India’s two-wheeler market.
Product Details and Pricing
The new model, Vida Z – which may be sold as the Vida VX2 in India – is expected to be priced around ₹1 lakh, below Hero's current Vida V2 range that starts at ₹96,000. The scooter features removable battery technology, distinguishing it from most competitors that use fixed battery systems.
"We are planning two new affordable products in the first half, most likely in July. That will help us accelerate our growth and gain market share," Hero MotoCorp management told investors during a recent earnings call, confirming prices below ₹70,000 for the new models.
The Vida Z was previously shown at the 2025 Bharat Mobility Global Expo in New Delhi. It uses a modular platform that supports battery capacities from 2.2kWh to 4.4kWh and is powered by a permanent magnet synchronous motor. The design is more subdued than Hero's existing models, aimed at family-oriented buyers.
A Market in Churn
India's electric two-wheeler market grew 21% to 1.15 million units in FY2025. But the headline has been how traditional motorcycle manufacturers have gained ground against companies that started with electric vehicles.
Recent monthly data shows a dramatic shift in market leadership. In May 2025, the electric two-wheeler market registered 30% year-on-year growth with 100,266 high-speed EVs sold, up from 77,327 units a year ago, according to VAHAN data. In April 2025, TVS recorded 19,736 units, narrowly beating competitors for the monthly lead.
Bajaj Auto secured second position in May with 21,770 units, more than doubling year-on-year (+135%) to take 21.7% market share. Ola Electric, once the undisputed leader, dropped to third place in May with 18,499 units, marking a sharp 51% decline from May 2024. Its market share fell to 18.4%.
Hero MotoCorp, though starting from a low base, posted a 191% jump to 7,164 units in May, with its share improving to 7.1%. In April 2025, Hero sold 6,123 Vida units, giving it a 7% monthly market share.
Hero MotoCorp has trailed its domestic rivals after entering the electric vehicle market later than competitors due to a family trademark dispute. A 2010 settlement between members of the Munjal family prevented Pawan Munjal's Hero MotoCorp from using the 'Hero' brand for electric vehicles. Those rights went to nephew Naveen Munjal's Hero Electric company.
After court proceedings and arbitration through the Delhi High Court, Hero developed the 'Vida' brand for electric vehicles, launching its first model in October 2022. The company sold 48,673 Vida units in FY2025, up 175% from the previous year. In April 2025, Hero sold 6,123 Vida units, giving it a 7% monthly market share, while May saw VIDA dispatch 8,361 units with 7,161 VAHAN registrations.
The rapid ascent of TVS and Bajaj in the electric segment highlights the urgency facing Hero MotoCorp. Both companies have successfully leveraged their traditional automotive strengths – extensive dealer networks, established service capabilities, and brand trust – to capture significant market share from early EV players like Ola Electric. This shift demonstrates that the electric two-wheeler market is consolidating around established players with proven distribution and after-sales infrastructure.
For Hero, the world's largest motorcycle manufacturer, the timing of the July 1 launch becomes critical. TVS has already established itself as the monthly leader, while Bajaj has secured a strong second position. With both competitors continuing to expand their electric portfolios and dealer networks, Hero faces the risk of being permanently relegated to a minor position in the electric segment despite its dominance in conventional two-wheelers. Industry analysts attribute the broader shift to the extensive dealer networks and service capabilities of traditional automakers.
Vida Z's Key Rivals
The upcoming Vida Z will enter a crowded sub-₹1 lakh electric scooter segment where established players have already gained significant traction. The main competitors include:
The removable system allows charging at any location with a standard electrical outlet. Hero's current Vida V2 models offer different battery and range options:
Hero operates over 3,100 fast-charging stations across 250 cities through a partnership with Ather Energy, where Hero is an investor. The Vida dealer network includes 203 locations with 180 dealers in 116 cities.
The company currently produces about 7,000 electric scooters monthly and plans to increase output to 13,000-15,000 units with the new launches. Hero also intends to enter European markets including the UK, France, Spain, and Italy in the second half of 2025.
The sub-₹1 lakh price point could attract buyers who have avoided electric scooters due to cost concerns. Hero's established service network may appeal to customers seeking reliable after-sales support, an area where some newer electric vehicle companies have faced challenges.
With India's electric two-wheeler penetration expected to reach 30% by 2025, Hero's expansion of its electric lineup reflects the company's need to participate in the market's growth. The July 1 launch will test whether Hero can improve from its current fifth-place position in electric vehicle sales.